How to do financial planning?

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As it is a tool that requires a set of data and financial information — in addition to the management's full attention to develop the strategies that will guide the company throughout the year —, its development is done in stages.

Here, we have separated the main steps that can be adapted according to the reality of different types of companies. Follow along!

Analyze the income statement and balance sheet
As mandatory accounting reports, the income statement and balance bulgaria phone number list are documents that contain very important information about the company's direction.

The income statement contains all revenues and expenses, profits and losses during the year. Due to all this amount of data, management can take a long time to analyze it. Ideally, a selection of the information to be evaluated should be made.

Look for those that are truly related to what the company wants. Be careful, because this is a great time to make comparisons, observing which actions or months the company had the highest yield, what were the differences during that period, among others.

The balance sheet, in turn, provides important information related to the company's assets. However, it is essential to separate the views on what this means. Many people think that profit is directly linked to the company's assets, but this is not true.

A business can earn R$100,000.00 and have expenses equivalent to R$95,000.00 , therefore, its equity is R$5,000.00 . This is the type of information that the balance sheet offers to management, in addition to presenting the values ​​of profit, revenue, inventory, assets, rights and obligations and many other data.

Therefore, the first step towards financial planning for 2024 is to analyze the information contained in these two reports. If you have difficulty understanding the data and information layout, it is worth talking to your accountant to better understand and interpret the data.